Help with TR1 form

jeaster1

Dear all,

My gf and I bought our flat in December. The lease has 160 years. The freehold title for our flat and the one upstairs is shared by the landlord of the flat upstairs and the property management company that previously worked on behalf of the former owner of our flat.

The company have agreed to transfer the freehold and want my solicitor to complete and send a TR1 form. I do not yet have a solicitor - I'll get quotes if needed but it seems fairly straightforward to complete this...perhaps with a little help for one of the sections.

In Section 10, Declaration of Trust, there are three options:

The transferee is more than one person and
☐ they are to hold the property on trust for themselves as joint tenants
☐ they are to hold the property on trust for themselves as tenants in common in equal shares
☐ they are to hold the property on trust:

Is it possible that the property can be held jointly between myself and my girlfriend for 50% of the share (1) and to hold between us and the landlord of the other half as tenants in common in equal shares (2)? Or should the second option just be checked regardless?

Also, does our mortgage lender need to be mentioned on the TR1 form?

Thank you

Land_Registry

jeaster1 - so in effect the landlord of the flat above and the management company are transferring the freehold to the landlord plus you and your gf, correct?

As such I would strongly recommend that you do seek legal advice/help as to how you wish to hold the property and to ensure that if something were to happen to either you, your gf or indeed the other landlord that your beneficial shares are adequately protected. The TR1 alone is unlikely to achieve that.

Our online guidance re completion of the TR1 is essentially the limit of the advice we can give re completing the relevant panel. As such the % shares and specific arrangements I have mentioned are usually covered in more detail quite separate from the TR1

As the TR1 relates to the freehold only your mortgage lender, whose loan is presumably secured against the leasehold only, need not be involved.